ADVEO registers stable sales

Europe
| 03 March, 2014

ADVEO registered a loss of 6 million euros for 2013 which it attributed to restructuring (10.5 million) and associated costs regarding the sale of Unipapel.

In a statement to the Spanish stock exchange (CNMV), the European wholesaler reported turnover of 1,056 million euros, down 0.3% from the previous year despite difficult market conditions, particularly in Spain.

On December 30 , ADVEO signed an agreement for the sale of Unipapel manufacturing business to Springwater Capital for EUR 16 million , a transaction expected to close during the first quarter of 2014.